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Is my employer required to offer severance?

Short answer

Generally no, unless a contract, policy or union agreement requires it, or in some mass-layoff situations.

Rules differ by state. This is general information, not legal or professional advice.

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Official sources

U.S. Department of Labor: severance paydol.gov
U.S. Department of Labor: WARN Actdol.gov
EEOC: age discrimination and releaseseeoc.gov